Ofgem, the energy regulator, has unveiled plans for explicit rules governing the use of artificial intelligence (AI) within the energy industry, amid growing apprehensions about the risk of tacit collusion among companies. The regulator intends to publish a formal framework during the summer to address these concerns. While acknowledging the potential benefits of AI in […]
Virgin Atlantic, once teetering on the brink of collapse during the pandemic, now anticipates reaching new heights with record operating profits this year as passenger numbers soar back to pre-Covid levels. The Heathrow-based carrier, jointly owned by Sir Richard Branson’s Virgin Group and Delta Air Lines of the US, clawed its way back to operating […]
Inflation within the eurozone plummeted to 2.4% in March, marking its lowest level in over two years. This decline intensifies pressure on the European Central Bank (ECB) to take action, potentially becoming the first major authority to cut interest rates this year. Official data from the 20-country single currency area unveiled a notable dip in […]
Almost six in ten of businesses prefer to buy UK-manufactured products over alternatives imported from other countries as ‘buy British’ sentiment rises 20% at businesses across the economy, according to nationwide research. The research from Made in Britain found the two key drivers of economic patriotism among UK companies are “to help the British economy […]
Claire Coutinho, the Energy Secretary, is exploring the possibility of removing £4 billion of green levies from household electricity bills, considering options such as transferring some or all of these charges to gas bills or funding them through general taxation. The move comes amid concerns that these levies are hindering the adoption of technologies like […]
London Underground drivers, represented by the Aslef union, are set to stage two 24-hour strikes, exacerbating commuter woes across the capital. Here’s what you need to know about the upcoming walkouts: When will the strikes take place? Aslef members will embark on industrial action on the following dates: – Monday, April 8– Saturday, May 4 […]
The Conservative Party is eyeing significant strides towards abolishing National Insurance over the next parliamentary term if they secure re-election, according to Treasury minister Gareth Davies. Davies, speaking to The Telegraph, expressed confidence in the government’s ability to make “significant” progress in eliminating the levy on work, though he refrained from specifying a timeframe, hinting […]
The Treasury has discreetly halted the bidding process for managing the sale of its stake in Natwest, raising doubts about the structure of the much-hyped ‘Tell Sid’-style retail deal. The government, retaining approximately 30 per cent ownership of the bank post-financial crisis bailout, had initiated a competitive tender process with retail investment firms to facilitate […]
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The closure of the Port of Baltimore following the catastrophic collapse of the Francis Scott Key Bridge has prompted concerns about significant disruptions to supply chains in the United States. Transportation Secretary Pete Buttigieg warned of a “major and protracted impact” on supply chains due to the closure, although experts suggest the impact might be […]